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Strategies & Market Trends : Value Investing
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To: Madharry who wrote (28646)10/21/2007 2:49:06 PM
From: Jurgis Bekepuris   of 78744
 
Just because YOU or a savvy investor(s) will not use Moody's ratings in the future, it does not mean that others won't. Like in any situation there are two possibilities: either you do your own DD, or you rely on an outside agency. 90% - perhaps 95% - of people do not have time, interest or acumen to do their own DD and they WILL rely on agency ratings in the future as they did in the past. The only things that you could argue against Moody's and S&P are two:

- they will collapse and be sued to the ground. Like Paul said, this is unlikely. Although we know what happened to Andersen and IMHO that company was no more at fault than Moody's/S&P. But I am not a lawyer, etc.

- a new agency will appear untainted by past ratings and people will switch to it. This is again very unlikely, but if such agency were to appear, NOW is the time for it to start issuing recommendations. ;)

I hold a small position in MCO. I am not sure I will increase it - it will depend on how the situation unfolds.
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